Tuesday's IBD 50 Stocks To Watch pick is streaming media company Netflix (NFLX), which has created a bullish add-on entry following an 84% gain in 2024. That makes Netflix stock one of the best ideas to watch right now.
Last week, the company reported strong viewership numbers for its Christmas Day NFL football broadcasts and Beyoncé halftime show. Its two NFL games reached nearly 65 million viewers in the U.S. alone, according to Nielsen.
↑ XOn Oct. 17, Netflix earned $5.40 a share on sales of $9.83 billion in the September quarter. Analysts polled by FactSet had expected earnings of $5.12 a share on sales of $9.77 billion. On a year-over-year basis, Netflix earnings rose 45% while sales climbed 15%.
Netflix added 5.1 million subscribers in the third quarter, beating views for 4 million. It ended the quarter with 282.7 million subscribers worldwide, up 14% year over year.
For the full year, Wall Street expects the company's earnings to grow 65%, with an increase of 20% in 2025, per IBD MarketSurge.
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After hitting a record high on Dec. 11 at 941.75, Netflix has traded tightly over the past three weeks. That created a three-weeks-tight add-on buy trigger at 941.75.
Bullishly, the relative strength line is just off new highs as well. That's a sign of strong outperformance vs. the S&P 500 and reiterates that Netflix stock remains a market leader.
Keep in mind that it is late in the stock's long-term advance. The latest formation was a fourth-stage base, per IBD MarketSurge pattern recognition. Early-stage bases are more likely to net bigger gains.
IBD Stock Checkup shows that Netflix stock boasts a perfect 99 IBD Composite Rating, another bullish attribute. That's another reason Netflix stock is one of the best stocks for a watchlist.
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Three recent IBD 50 Stocks To Watch picks remain among the best stocks to research.
| Company | Symbol | Buy point | Type of base |
|---|---|---|---|
| Shift4 | (FOUR) | 101.00 | 10-week support |
| Arista Networks | (ANET) | 116.94 | Three-weeks-tight |
| Taiwan Semiconductor | (TSM) | 205.63 | Cup with handle |
Follow Scott Lehtonen on X at @IBD_SLehtonen for more on the best stocks to buy and watch and the Dow Jones Industrial Average.
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